OpenFX raises $94 million to expand cross-border FX infrastructure

OpenFX announced a $94 million Series A on 31 March, led by Accel, Atomico, Lightspeed Faction, M13, Northzone and Pantera, with Flybridge and Hash3 also participating. Founder Prabhakar Reddy said the company built API infrastructure for financial institutions moving money across currencies. OpenFX says annualised payment volume grew from $8 billion in May 2025 to $45 billion in February 2026; these are company-reported figures.

OpenFX says it connects institutions rather than acquire remittance customers directly. The round gives the startup capital to scale its network, but it did not disclose a valuation or corridor-by-corridor volume breakdown. The reported total describes claimed platform activity, not independently verified consumer savings or transfers in any single market.